Noveon Magnetics (formerly known as Urban Mining Company) is engaged in the research and manufacturing of magnetic products. It develops a magnet-to-magnet recycling process that utilizes waste or recycled magnetic material to produce Nd-Fe-B magnets. The company offers magnet manufacturing, research, development, and recycling. Noveon Magnetics serves the electric vehicles, MRI machines, wind turbines, defense systems, and robot creation industries.